Netflix CEO and Co-Founder, Reed Hastings officially announced on the Netflix blog that it’s splitting the DVD-by-mail business and renaming it to Qwikster, whereas streaming video service known as Netflix. He also announced that Andy Rendich, who has been running the DVD business for the last four years, will become CEO of Qwikster.
Hastings apologized for the way Netflix announced the changes-"members felt we lacked respect and humility in the way we announced the separation of DVD and streaming, and the price changes."
By the way, the Qwikster envelopes will still be red. Only the logo will change.
Source:- Netflix Blog
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